Market Analysts see TEGNA Inc [TGNA] falling to $17. Time to buy?

TEGNA Inc [NYSE: TGNA] closed the trading session at $14.29. The company report on March 19, 2024 at 10:15 AM that TEGNA to Host First Quarter 2024 Earnings Conference Call on Wednesday, May 8, 2024.

TEGNA Inc. (NYSE: TGNA) will host a conference call to discuss its first quarter 2024 earnings results on Wednesday, May 8, 2024, at 10 a.m. (ET).

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The conference call will be webcast through the company’s website, and is open to investors, the financial community, the media and other members of the public.

The stocks have a year to date performance of -6.60 percent and weekly performance of -4.73 percent. The stock has been moved at -7.45 percent over the last six months. The stock has performed -2.39 percent around the most recent 30 days and changed -5.74 percent over the most recent 3-months.

If compared to the average trading volume of 2.25M shares, TGNA reached to a volume of 4885901 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about TEGNA Inc [TGNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGNA shares is $18.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGNA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for TEGNA Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2023. The new note on the price target was released on May 05, 2022, representing the official price target for TEGNA Inc stock.

The Average True Range (ATR) for TEGNA Inc is set at 0.40, with the Price to Sales ratio for TGNA stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 2.05. Price to Free Cash Flow for TGNA in the course of the last twelve months was 4.73 with Quick ratio for the last quarter at 2.48.

TGNA stock trade performance evaluation

TEGNA Inc [TGNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.73. With this latest performance, TGNA shares dropped by -2.39% in over the last four-week period, additionally sinking by -7.45% over the last 6 months – not to mention a drop of -6.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGNA stock in for the last two-week period is set at 45.09, with the RSI for the last a single of trading hit 43.25, and the three-weeks RSI is set at 45.45 for TEGNA Inc [TGNA]. The present Moving Average for the last 50 days of trading for this stock 14.87, while it was recorded at 14.68 for the last single week of trading, and 15.46 for the last 200 days.

TEGNA Inc [TGNA]: An insightful look at the core fundamentals

TEGNA Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.48 and a Current Ratio set at 2.48.

Earnings per share (EPS) analysis for TEGNA Inc [TGNA] stock

With the latest financial reports released by the company, TEGNA Inc posted 0.47/share EPS, while the average EPS was predicted by analysts to be reported at 0.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TGNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TEGNA Inc go to 10.00%.

TEGNA Inc [TGNA]: Institutional Ownership

The top three institutional holders of TGNA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TGNA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TGNA stock with ownership which is approximately 5.8325%.